LIC ADO 2019 – Financial Awareness Questions (Day – 89)

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Dear Aspirants, LIC ADO is one of the most important exam in the competitive examination. LIC ADO mains exam consists of three sections i.e. Reasoning ability and Numerical Ability, General knowledge & Current affairs and Insurance & Financial Market Awareness. LIC ADO Insurance Awareness & Financial Market Awareness section comprises of 50 questions. LIC ADO Financial Awareness Questions 2019 play an important role in boosting up the score in mains examination and also helps in the interview. Here we are providing a new series of LIC ADO Financial Awareness Questions 2019. Aspirants can make use of this LIC ADO Financial Awareness Questions 2019, to improve score in the Insurance & Financial Market Awareness section.

LIC ADO 2019 – Financial Awareness Questions (Day – 89)

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1) Under call money market, funds are transacted on an overnight basis and under notice money market, funds are transacted for a period between _____ days and _____ days.

a) 2, 14

b) 1, 30

c) 30, 180

d) 30, 365

e) 90, 180

2) Which among the following crypto-currency exchange has introduced a platform for Wholesale Crypto-currency Trading?

a) Coinmama

b) Unocoin

c) Coinsecure

d) BuyUcoin

e) Koinex

3) What does ‘S’ stands for in acronym FSDC?

a) Stability

b) Savings

c) Secondary

d) Securities

e) Spillover

4) The value payable to the policy holder in the event of his deciding to terminate the policy before the maturity of the policy is known by which term?

a) Premium

b) Actual Cash Value

c) Surrender Value

d) Lapsed Value

e) None of these

5) Reserve Bank initiated steps to set up a wide-based digital Public Credit Registry (PCR). For developing the registry the RBI has invited expression of interest (EOI) from companies with a turnover of over __________ in the last three years.

a) Rs. 10 crores

b) Rs. 50 crores

c) Rs. 100 crores

d) Rs. 500 crores

e) Rs. 25 crores

6) The Reserve Bank of India recently, came out with guidelines for banks to set up new currency chests. As per RBI norms the currency chests should have CBL of ₹_______ crore.

a) 500

b) 1000

c) 1500

d) 2000

e) 2500

7) In the world of financial market, what does “Offer Document” means among the following?

a) Prospectus in case of a public issue

b) Letter of Offer in case of a rights issue

c) Prospectus in case of a rights issue

d) Letter of Offer in case of a public issue

e) Both A & B

8) What is a Hard Loan?

a) A loan which has immovable property as collateral

b) A loan which has movable assets as collateral

c) A foreign loan that must be paid in hard currency

d) A loan of “last resort”

e) A loan taken by farmers in harsh weather conditions.

9) Indian Financial System Code consists of how many alphanumeric digit?

a) 12

b) 11

c) 10

d) 9

e) 8

10) When an agent asks a customer to invest in a mutual fund product without telling him/her about the risks involved in the investment, the process is termed as-

a) mis-selling

b) undertaking

c) misappropriation of funds

d) cross-selling

e) None of the given options is true

Answers :

1) Answer: a)

Under call money market, funds are transacted on an overnight basis and under notice money market; funds are transacted for a period between 2 days and 14 days. The money lent for more than one day, however, not more than fifteen days is known as Notice Money.

2) Answer: d)

BuyUcoin has introduced an Indian platform for Wholesale Crypto-currency Trading. The platform works on ‘free trading model’ which means it charges zero fee on any trade.

3) Answer: a)

FSDC stands for Financial Stability and Development Council.

FSDC is an apex-level body constituted by the government of India. The idea to create such a super regulatory body was first mooted by the RaghuramRajan Committee in 2008. Finally in 2010, the then Finance Minister of India, Pranab Mukherjee, decided to set up such an autonomous body dealing with macro prudential and financial regularities in the entire financial sector of India. An apex-level FSDC is not a statutory body.

4) Answer: c)

The value payable to the policy holder in the event of his deciding to terminate the policy before the maturity of the policy is known as ‘Surrender Value’.

5) Answer: c)

To capture details of all borrowers, willful defaulters and also the pending legal suits, RBI has initiated steps to set up a wide-based digital Public Credit Registry (PCR). For developing the registry the RBI has invited expression of interest (EOI) from companies with a turnover of over Rs. 100 crores in the last three years.

6) Answer: b)

RBI appointed committee recommended that RBI should encourage banks to open large currency chests with modern facilities and Chest Balance Limit (CBL) of at least ₹1,000 crore. As per the recommendation currency chests should have CBL of ₹1,000 crore, subject to ground realities and reasonable restrictions, at the discretion of the Reserve Bank.

7) Answer: e)

“Offer document” means Prospectus in case of a public issue or offer for sale and Letter of Offer in case of a rights issue, which is filed Registrar of Companies (ROC) and Stock Exchanges An offer document covers all the relevant information to help an investor to make his/her investment decision. “Draft Offer document” means the offer document in draft stage. The draft offer documents are filed with SEBI, at least 21 days prior to the filing of the Offer Document with ROC/ SEs.

8) Answer: c)

DEFINITION of ‘Hard Loan’ A foreign loan that must be paid in the currency of a nation that has stability and a reputation abroad for economic strength (a hard currency). For example, a loan agreement between a Brazilian company and an Argentinean company where the debt is to be paid in U.S. dollars.

9) Answer: b)

IFSC is an 11-character code with the first four alphabetic characters representing the bank name, and the last six characters (usually numeric, but can be alphabetic) representing the branch. The fifth character is 0 (zero) and reserved for future use. Bank IFS Code is used by the NEFT & RTGS systems to route the messages to the destination banks/branches.

The Indian Financial System Code (IFS Code) is an alphanumeric code that uniquely identifies a bank-branch participating in the two main Electronic Funds Settlement Systems in India.

10) Answer: a)

Misselling is a significant problem in financial services industry and for financial industry regulators. Brokers, financial advisors, bank representatives or other salespeople of financial products or services who are compensated based on commissions may have significant incentives to sell investments or investment products based on how much they can earn rather than what is suitable or what is needed by a customer. Misselling may occur with insurance products, annuities, investments, mortgages and a variety of other financial products. A financial loss is not necessarily required to meet the definition of misselling; the sale of an unsuitable product is enough.

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